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Banking Crises Has Arrived: 722 Banks Report Severe Losses and May Need Saving

“Rising interest rates are creating significant unrealized losses in investment securities and in some cases depressing tangible equity,” the Fed presentation states. “As interest rates increase, banks with large market value losses could experience increased financial and risk management challenges.”

Moreover, “31 of these banks report negative tangible equity levels,” which means they are currently “not able to borrow new money from Federal Home Loan Banks and may lose the ability to sell loans to Government Sponsored Enterprises,” the Fed presentation adds.

Florida Session Ends With Multiple Desantis and Web3 Wins

The Legislature stepped up to the plate to take on the corporatist, globalist ESG movement and prohibited the financial sector from considering so-called “Social Credit Scores” in banking and lending practices that aim to prevent Floridians from obtaining loans, lines of credit, and bank accounts based on their political beliefs.

The Governor and Legislature also pushed back against central bank digital currencies (CBDC), telling the federal administration that such government intrusion into Floridians’ financial freedom is unacceptable and will not be allowed.

North Carolina Follow's Florida: Bans CBDCS's With Spuller Amendment

At the federal level, Representative Tom Emmer and Senator Ted Cruz have both introduced separate bills aimed at restricting the Fed’s authority over CBDCs or proposing an outright ban. Robert F. Kennedy Jr., another U.S. presidential hopeful, has claimed that CBDCs could “grease the slippery slope to financial slavery and political tyranny.”

The North Carolina bill will move to the Senate, where it must pass before being signed into law or vetoed by Governor Roy Cooper. The Board of Commissioners for North Carolina’s Buncombe County also approved a one-year moratorium on crypto mining on May 2.

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Analytical Data

Last year's "technical recession" wasn't a recession but it was an important development. It was what kicked off the transition period from the prior expansion (loosely speaking) to the recession now. Every time wholesales hoped sales were coming back they got disappointed.

Microstrategy ($MSTR) 🥇 Bitcoin holding has increased every quarter since August 2020.

 US 🇺🇸 to ban short-selling because of bank crisis says JP Morgan - The short selling ban of September 18th, 2008 marked the start of the panic collapse of the stock market.

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